Why Choose to be a Franchisee?
If you’re thinking about changing your career, shifting your lifestyle to something that suits you better, need more independence, are keen to run your own business (whilst avoiding the potential pitfalls of a start-up operation) and happy to work hard doing it, franchising offers a great route to market. You could be part of an important contributor to the UK economy – the franchise sector.
There are a few things, however, that we’d like to share, to guide you through this process!
Franchising can be a confusing issue, with people talking about ‘rail franchises’ and ‘film franchises’ and then there’s a group of companies who call themselves franchises who aren’t really (they’re most likely to offer a licence and some may be multi-level marketing) and then there’s the real thing – business format franchises who offer franchisees the opportunity to work for themselves following a proven business model.
The only way to differentiate currently, with any ease, is to identify franchise businesses who are members of the British Franchise Association (bfa). The bfa grant membership to bona fide business format franchise models that have proven themselves to be just that. These businesses, including ours, have to provide evidence and be prepared for ongoing assessment and analysis to keep their accreditation.
Franchising is undoubtedly a great way to own your own business whilst having the continued support of your franchisor and peers when you need it. Buying into a proven brand operating a proven business model means you don’t have to reinvent the wheel. Having others working on your behalf to develop the customer offering and driving best practice in your chosen industry is invaluable.
Franchising may not be for everyone – but there is usually a suitable franchise option for those who meet the criteria. To find great, impartial, advice on becoming a franchisee you might like to visit one, or all, of the following websites…
The NatWest/bfa survey 2013 reports the following…
There are 930 franchise systems in operation in the UK. The total number of people employed in franchising in the UK is 561,000, of which just under half are in full time employment. The overall contribution of franchising to the UK economy is £13.7 billion
The survey highlighted that Franchisees saw the following benefits in being a franchisee:
- Quality Expectations
- Having a standardised product or service
- Appearing to have a larger business
- Having a sustainable business
- Competitive advantage
- Limited financial liabilities
- Franchisor Support
- Being part of a bigger brand